Thursday, September 8, 2011

Omidyar Backs Mexican Mobile Phone Service

Redwood City-based Omidyar Network, the philanthropic investment arm of Pierre Omidyar, the founder of eBay, said Wednesday that it has backed Finestrella, a provider of mobile telephone services to the low income and unbanked Mexican population. Omidyar and fellow investor IGNIA said they led a $13.75M, Series B round of financing in Finestrella, which will go towards expandints its offerings, plus new products and smart phones. Bay Partners and Storm Ventures also participated in the funding. Amy Klement of Omidyar Network joins Finestrella's board. More information »